Question: What is the term for a necessary payment that a factor of production must earn in order for it to remain in its present use?

What is the term for a necessary payment that a factor of production must earn in order for it to remain in its present use?
Multiple choice question.
Economic rent
Transfer earnings
Real wage
Factor payments

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Economics Questions!

Q:

Bug-Off Exterminators provides pest control services and sells extermination products manufactured by other companies. Following is the company's unadjusted trial balance as of December 31, 2021....

Q:

Which of the following statements is correct? Statement 1. Of all the techniques used in finance, the least important is the concept of the time value of money. Statement 2. Compounding is the...

Q:

tackle all parts 1. The diagram below shows a firm operating under conditions of perfect competition in the short run. Price (a) What is represented by the lines numbered 1 to 3? Use the answer box...

Q:

echr Section C Question 5 Production Function Estimation. Suppose that you have a random cross section of firm- level data, with information on output, labor and capital. In logs, (uni, hi, k : i =...

Q:

hello hello explain the answers 1. The diagram below shows a firm operating under conditions of perfect competition in the short run. Price (a) What is represented by the lines numbered 1 to 3? Use...

Q:

Please just help me correct the ones that I got wrong. Please, and thank you. The corrections are in the file seboprincess00322885. I made some corrections already so if you come across them, just...

Q:

Could you finish this for me? I made it to page 5, but I am running short on time and my conceptualization is lacking. If not, maybe help me figure it out? Annual Report Project Lowe's Companies,...

Q:

Could you finish this for me? I made it to page 5, but I am running short on time and my conceptualization is lacking. If not, maybe help me figure it out? Annual Report Project Lowe's Companies,...

Q:

Discussion Board 4 Production Economics and Decisions...

Q:

Accounting Problems ACC303 Chapter 6 Could you assist me with (6) problems 6-10, 6-14, 6-5, 6-8, 6-15, 6-21. I need a breakdown of how each problem is solved and completed by 6/11/16. 6/4/2016 Print...

Q:

Accounting Problems ACC303 Chapter 6 Could you assist me with (6) problems 6-10, 6-14, 6-5, 6-8, 6-15, 6-21. I need a breakdown of how each problem is solved and completed by 6/11/16. 6/4/2016 Print...

Q:

Read the article Thinking Strategically About Pricing Decisions. In the article, the authors present four innovative pricing models. Choose one of the models and critique it in your initial post. Be...

Q:

Answer the Following Requirements: a. Assume the required reserve rate is 20%. What are required reserves for this bank? b. What are transactions deposits and total liabilities for the bank? c. How...

Q:

Short - to medium - term loans of Eurocurrency extended by Eurobanks to corporations, sovereign governments, nonprime banks, or international organizations are called .

Q:

Prior to Billy Beane, how efficiently were scarce resources allocated throughout Major League Baseball? Was it a smart allocation? Explain.